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2� 1 ��4� 15
<br /> DEED �F TRUST
<br /> ��ontinu�d} Page 3
<br /> �o main�ain su�h insurance for the term ❑�the jvan.
<br /> AppfiGation o� Pt'o�eeds. Trus�or shaIl prompf�y no�i�fy Lender af any Ioss or damage ta the Property i� the
<br /> es�imated cosfi o� repair ❑r repiacemen� exG�eds $'f�000.Dfl. Lend�r may mak� proo�'of lass if Trus�ar fails t� d❑
<br /> so wi�hin fifteen {�5} days of fihe casualty. Vllh�ther or nat Lender�s secu�ity is impair�d, Lender may, at Lender's
<br /> elec�ion, recei�e and t-etain �he proceeds o� any insurance and apply �he praceeds �o the redu�fion �� the
<br /> lndeb�edness, paymen� of any �ien afifecting the Proper�y, ❑r the res�arati�n and repair o�the Property, If Lender
<br /> e�ects ta apply �he proceeds �a r�storatian and repazr, Trustor shall repair or repIace �he damaged or des�rayed
<br /> Impro�ements �n a manner satisfac�ory to Lender. Lender shaIl, upon sa�isfactory proa�F ofi such expendifiur�, pay
<br /> or reimburse Trustar from �i�e proceeds �ar�he reasonabfe cast of repair or r�stora�ion if Trus�or is nat in de�Fault
<br /> under fihis ❑eed ❑�T�-us�, Any proceeds which ha�e not t�een d�sbursed within 'l 8� days after their r�ceipt and
<br /> which Lender has not c�mmitted ta �he repair or restarat�on of th� Property shall be used firs��❑ pay any amount
<br /> �wing ta Lender under�his ❑eed of Trust, then�a pay a�crued interest, and th� remainder, if any, shall be appli�d
<br /> �a �h� principal balance of �he Indebtedness, If Lender halds any proceeds after payment in fu11 0� the
<br /> Indebtedness, such proceeds shall b� paid�o Trustor as Trustor's in�erests may appear.
<br /> Compfiance with Existing fndeb�edness. ❑uring �he period in which any Exis�ing Indebtedness descrihed belvw is
<br /> in effect, complian�e with �he insurance pro�isions contained in �he instrument e�idencing such Existing
<br /> indebtedness shall �onsti�ute complian�e with �he insurance pro�isions under �his �eed of Trust, to the ex�ent
<br /> �ampliance with the terms af this Deed Qf Trusf would canstitute a duplica�ion of insurance requirem�nt. I� any
<br /> pro�eeds from the insurance hecome payable on Eoss, the provisians in this ❑eed of Trust for divisian of proceeds
<br /> sha�i apply only�o�ha�partian o�the proceeds no�payable�o the halder��the Existing lndebfi�dness.
<br /> LENI]ER'S EXPENDITURES. 1� Trus�a�- �ails {A} �o keep �he Prvperky �ree of ali �axes. liens. securi�y in�erests,
<br /> encum�ran�es, and ofher cIaims, {B} to pro�ide any required insurance on the Propertyr {C} �o make repairs ta the
<br /> Property or to comply with any obiiga�ian �o maintain Existing lndebtedness in good standing as required below, �hen
<br /> Lend�r- may d❑ so. ff any ac�ion vr proc�eding is commen�ed tha� woUld ma�eria�ly affeet L�nder's ��terests in �he
<br /> Praper�y� �hen Lender on Trus�or's behalf may� but is no� requir�d to, �ake any actian tha� Lender beiie�es to be
<br /> appropriate ta pratec� Lender's in�eres�s, All expenses incurred ar pazd by L�nder for such purpas�s will �hen bear
<br /> interes� at �he ra�e charged under the Credi� Agreemen� �rom �he date incurr�d ❑r paid by Lender to the date of
<br /> repaym�n� by Trustor. A!! such expenses wili becom� a part Q�the lndeb�edness and, a� Lender's aption, wiII �A} b�
<br /> payable ❑n demand, (B� be added �to �he balance ❑�F�he Credzt Agreement and be apportioned among and be payable
<br /> wi�h any installment payments to become due during er�her ('1� the term of any applicable insurance poi�cyr or {�} the
<br /> ramaining te�m of the Cr�dit Agreement; ar {G} be treated as a ballvon payment which will b� due and payabl� a�the
<br /> �r�di�Agreemen�`s ma�ur�ty. The C�eed o�Trus�a�so wiII se�ure payment a-F�hese amoun�s. Th� rights provided for in
<br /> �his paragraph shaIl be in additian to any ❑ther rights or any remedies to whi�h Lender may be entitI�d on account ❑f
<br /> any default. Any such acti�n by Lender sha!! not be construed as curing the de�aul� s❑ as to bar Lender fram any
<br /> remedy that�t o�herwise wouid ha�e had.
<br /> WARRANTY; DEFENSE OF T1TLE. Th�foliowing pra�isi�ns r�lating to own�rship o��he Property are a part a��his I�eed
<br /> af Trus�;
<br /> Title. Trustor warran�s �hat: {a} Trustor holds gaad and marketable titl� of reGord ta �he Property in f�e simple,
<br /> �rree and �lear a�F all liens and encumbr�nces ❑ther than those set farth in the Rea! Praperty descriptFon ar �n �he
<br /> Existing lndebtednes�sectian below ❑r in any title insuranGe policy,�itle report, ar finai title ❑pinion issued in favar
<br /> o�, and accepted by, Lende� in connection with this Deed ❑f Trust, and {b} Trustor has the ful! right, power, and
<br /> authority ta execu�e and deli�er this Deed ❑f Trus�to Lender.
<br /> Defense of Title. Subjec��❑ �he excep�ion in the pa�-agraph aba�e, Trustor warranfs and wiII fare�er def�nd fihe
<br /> tit1��o the Proper-�y against the lawfuI �Iaims of aIl p�rsans. In the e�en� any action or proceeding is commence�
<br /> fha�k questions Trustor'$tifle vr�he interest of Trust�e ar Lender under�his Deed of Trus��Trus�or sha11 defend the
<br /> action at Trus�or's expense. Trustor may be the nominal party in such proceedingf bu� Lender�half be entitI�d to
<br /> participate in the praceed�ng and �o be represented in �he proceeding by caunsel of Lend�r's own choice, and
<br /> Tru��ar will deli�er, ❑r Gause�f❑ be d�Iiv�redr �ko Lende�-suGh instruments as Lender may request fram time to tim�
<br /> to p�rmit such participa�ion.
<br /> Gompi�ance Wirth Laws. Trustor warran�s that the Property and Trus�orFs use o�F#he Proper�y compl�es with aII
<br /> exisfing applicabie�aws, ordinances, and regula�ions o�F go��rnmen�aI autharities.
<br /> Sur�i�al of Promises. All pramises, agreemen�s, and s�a�ements Trustor has made in this �eed oi` Trus� shall
<br /> sur�i�e the execution and deli�ery ❑f�his Deed of Trust, shall be continuing in nature and shall remain in full �or�e
<br /> and efFect untif such time as Trustor=s Indebfedness is paid in fuli.
<br /> EXlST�NG IN�EBTEDNESS. The follawing provisions canc�rning Existing Ind�b�edness are a part ofi this �eed of Trust:
<br /> Existing Lien, The lien of �his Deed o�F Trus� se�uring the Indeb�edness may be secondary and inferi�r �o an
<br /> exis�ing lien. Trustar expressly �ovenants and �grees to pay, a�see to �he paymen�a�F, �h� Exis�ing Indeb�edness
<br /> and�� pre�ent any default on such indebtedness, any de-�auIt under�he inst�uments e�idencing su�h indebtedness,
<br /> ar any defaul�under any security documents�or-such indeb�edness.
<br /> No Modific�tivn. Trustor shall not enter intv any agreement with the hoIder of any markgage, deed of trus�, or
<br /> ❑the� security agreemen� whi�h ha� priority o�er this ❑eed of Trust by whi�h that agr�emen�k is madif�ed,
<br /> amended, ex��nded, ❑r renewed wi�hout the priar written �ansen� ❑� L�nder. Trustor shall n�ither request n�r
<br /> ac�ept any fu�ure ad�anGes under any su�h security agreement withouf�he priar written consent o�Lender.
<br /> C�NDEMNATI�N. The�ollowing pro�isi�ns reIating to condemna�ion proce�dings are a part of this D�ed ��Trust:
<br /> Proceedings. �f any pro�eeding in condemna-ti�n is filed, Trustor shall prampt�y notify Lender in w�-iting, and
<br /> Trustor shall pr�mptly �ake such steps as may be n�cessary to d�f�nd the acti�n and obtain �he award. Trusfior
<br /> may be the naminal party�n such praceeding, bu�Lender shall be enti�I�d to parti�ipa�e in the pra�eeding and�o be
<br /> represen�ed in the proceeding by c�unseE of its awn choice, and Trus�or will deIi�er or cause �a be deli�ered t❑
<br /> L�nder such ins�rum�nts and documentation as may be r�ques�ed by Lend�r from time to �im� to permit such
<br /> participa�ion.
<br /> Application❑f Net Pracesds. lf al� �r any part of the Property is c�ndemned by eminent domain proceedings or by
<br /> any proceeding or purchase in lieu o�candemnation, Lender may a�i�s elec�i�n require�ha�all o�-any portion of th�
<br /> net proceeds ❑f �he award be app��ed t� the Indeb�edness ❑r the repair or restoration of the Praperty. The net
<br /> praceeds vf the award sha!! mean�he awa�d af�er� payment of all reasonable casts, �xpens�s, and attorn�ys' �ees
<br /> incurr�c� by Trustee or Lender in connection with the candemnation.
<br /> �MP�SlT1�N QF TAXES, FEES AND CHAR�E� BY �QVERNMENTAL AUTHDR1TlES. The following pra�isions rela�ing
<br /> fio gv�ernmentai�axes,fees and charges a�e a part of fhis De�d af Trus�:
<br /> Curren�Taxes, Fees and Charges. L]pon request by Lender. Trusto�shaii execute su�h d�cuments in additian fio
<br /> this �eed ��F Trus�and take what��er other ac�ion is requested by Lender to perfec�and �antinue Lender's Iien ❑n
<br /> the Real Property. Trustar sha�i reimburse Lender for ai� taxes, as described below, together wi�h all exp�nses
<br /> incurred in recarding� per�ecting or continu�ng �his Deed of Trus�, including without� limi�a�ion aii fiaxes, fees,
<br /> documentary stamps, and other charges for recvrding or registering th9s Deed o�TrUst.
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